New Framework to Establish Seamless Regulatory Environment, Boost Ease of Doing Business Across India
NEW DELHI (ECONOMY INDIA): The Government of India is all set to launch the Business Reforms Action Plan (BRAP) 2024 to further strengthen the ‘Make in India’ initiative. The new plan aims to create a seamless business regulatory framework across the nation, thereby improving the ease of doing business. Led by the Department for Promotion of Industry and Internal Trade (DPIIT), BRAP 2024 introduces the latest reforms that cater to both business needs and citizens’ requirements.
Building on the successes of previous editions, BRAP 2024 will reduce compliance burdens and lower penalties for non-compliance, aligning with the World Bank’s upcoming ‘B-READY’ program. This streamlined approach will boost economic growth and further enhance investor confidence in India’s business landscape.
1. Enhanced Evaluation System
BRAP 2024 introduces a new assessment system based on evidence and feedback, offering a broader and more dynamic approach. The framework focuses on reducing approval time, integrating online service delivery, and leveraging initiatives like the National Single Window System and PM GatiShakti.
“BRAP 2024 is committed to creating a more transparent, efficient, and dynamic regulatory environment,” said a DPIIT official. The aim is to build a business-friendly ecosystem that will make India a preferred global investment destination.
2. Expanding Scope of Reforms
BRAP 2024 goes beyond its initial scope, covering critical sectors like labor, environment, taxation, land administration, utility permits, inspections, and construction. New areas like Information and Communication Technology adoption and process re-engineering have also been added through the Time and Document Study (TDS) initiative to ensure faster and more efficient government-to-business service delivery.
3. Transformative Impact Since Inception
Launched in 2014-2015, BRAP has been a transformative force in reshaping India’s business landscape by realizing the spirit of cooperative federalism. With six successful editions completed, BRAP’s unique approach of assessing states and union territories based on reform implementation is unparalleled globally.
4. Citizen-Centric Reforms
BRAP 2024 emphasizes transparent service delivery, ensuring that businesses and citizens have clear information about procedures, fees, and timelines. This aligns with Prime Minister Narendra Modi’s vision of creating an ecosystem where businesses thrive, and citizens experience a more efficient and responsive governance system.
Global Standards in Business Regulation
The new BRAP 2024 aims to streamline regulatory processes, boost investor confidence, and reduce the compliance burden. This will further position India as a competitive investment hub. The approach of regional challenge mitigation and creating multiple investment centers across the country is pivotal to the plan’s success.
BRAP 2024 is expected to play a key role in accelerating India’s economic growth, paving the way for sustainable development and inclusive progress.
The new BRAP framework reflects the government’s continuous efforts to promote a business-friendly environment while supporting the holistic development of the economy.
(Economy India)
